Re: [Pen-l] Obama going after full privatization of Social Security

[Carl Dassbach]

You should add that one of the premises was that people would invest these individual accounts in the "booming" stock market!!!!!! CHAD Max Sawicky wrote: Sure. The deal was to divert payroll taxes into individual accounts and cut benefits. Bush was always vague about the benefit cuts. The extent of the implied changes were documented in detail by Jason Furman, who is now Larry Summers' major-domo in the WH. http://www.cbpp.org/4-29-05socsec.htm The worst we could safely predict from Obama is laid out in Orszag's book with Peter Diamond, which is a variation on preserving SS while eliminating the projected Trust Fund shortfall with limited benefit cuts and tax increases. I don't favor that, but we could do a hell of a lot worse. With Bush we would have. On Wed, Feb 25, 2009 at 12:17 PM, Louis Proyect <l...@panix.com> wrote: Max Sawicky wrote: The Bush description is an IRA, albeit under a very different arrangement.  What was different is that Bush yoked this proposal to a gutting of social insurance, rather than an augmentation of it as per Ghilarducci. Could you be more specific about the "gutting" or are you simply ascribing ulterior motives to Bush. Speaking for my unrepentant self, I have no reasons not to ascribe the same motives to Obama. _______________________________________________ pen-l mailing list pen-l@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list pen-l@lists.csuchico.edu https://lists.csuchico.edu/mailman/listinfo/pen-l

_______________________________________________
pen-l mailing list
pen-l@lists.csuchico.edu
https://lists.csuchico.edu/mailman/listinfo/pen-l